FREMONT, Calif., March 3, 2021 /PRNewswire/ -- The global UAS traffic management (UTM) system market is projected to reach $5.49 billion by 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 17.13% between 2021 and 2031.
There are certain applications for which Beyond Visual Line of Sight (BVLOS) operations are highly beneficial, including rescue, package delivery, inspection, and border patrol. In military and government applications, the drones already fly in the BVLOS range, while in commercial applications, the BVLOS operations are yet to commence by 2021. In most countries, BVLOS flights, as of now, are not permitted, or they are highly regulated.
According to Federal Aviation Administration (FAA), in 2019, numerous applications emerged regarding BVLOS operations in FAA. The increasing need for BVLOS operations is making it necessary for the industry to introduce and deploy unmanned or UAS traffic management (UTM) systems.
The detailed study is a compilation of 54 Market Data Tables and 63 Figures spread through 236 Pages and an in-depth TOC on Global UAS Traffic Management (UTM) System
The comprehensive study of the global UAS traffic management (UTM) system market extensively covers the following:
- Competitive benchmarking and value chain analysis
- Detailed sections focused on different types of potential application areas
- Company profiling for more than 15 companies as well as list of other key players and emerging companies
- Detailed global and regional trials and demonstrations and regulatory overview
Who should buy this report?
- Service suppliers of UTM system
- Companies that are developing drones
- Emerging startups and government agencies that are engaged in the UTM ecosystem
- Private investors that are interested in entering the UTM industry
- End users, who are deploying drones for their operations
The BIS Research study on UTM systems also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, value chain analysis, potential application areas, and regional overview.
The research indicates that the potential demand for UAS traffic management (UTM) system has been increasing, which is due to the growing drone operations for beyond-visual-line-of-sight (BVLOS) and increasing deployment of drones for commercial and civil applications.
Further, the report highlights various emerging opportunities such as the potential opportunities for key stakeholders in the ecosystem as well as the demonstrations and other inorganic strategies that the key players are engaged in, so as to showcase the UTM service capabilities.
View BIS Research Report: Global UAS Traffic Management (UTM) System Market
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include segregation on the basis of application, and region to compile an in-depth study.
Nilopal Ojha, Lead Analyst - BIS Research, states, "The unmanned industry has witnessed significant growth, and this is due to the increasing number of drones being deployed for various commercial applications such as precision agriculture, inspection, and package delivery. Therefore, a UTM system is required to enable BVLOS drone operations and safely integrate them in the airspace."
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Key insights and data triangulation have been produced from in-depth interviews with leaders of the leading companies and market participants. The key players profiled in the report include AirXOS, Unifly, Altitude Angel, Skyward.io, OneSky, DeDrone, DJI Innovation, Kitty hawk, Precision Hawk, vHive, Airbus, Thales, Leonardo Company, SRC Inc., and AirMap, among others.
The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.
How can market intelligence on UAS traffic management (UTM) system add value to an organization's decision-making process?
- Helps in analyzing technological substitutes and future trends
- Aids in targeting a segment for product launch
- Helps in making the strategies required for the market
- Helps in understanding the geographical scenario of the market
- Aids in analyzing the competitors' strengths and weaknesses
- Assists in exploring new products
Insightful Questions Covered to Enable Companies take Strategic Decisions
- What are the enabling technologies within the UAS traffic management (UTM) system market?
- What is the demand for commercial drones for various applications?
- What are the driving and challenging factors for the growth of the UTM system market?
- Which are the various trials and demonstrations that have been conducted from 2018 till date?
- What are the various regulations in countries such as the U.S., Canada, U.K., and France?
- How is the industry expected to evolve during the forecast period 2021-2031?
- What are the key developmental strategies that are implemented by the key players to sustain the competitive market?
- What are the different UTM concepts in each country?
- What is the competitive scenario and who are the stakeholders in the UTM value chain?
- Which are the different companies involved in the UTM market?
BIS Research Related Market Studies:
Global Urban Air Mobility (UAM) Market - Analysis and Forecast, 2023-2035
Global Autonomous BVLOS Drone Market - Analysis and Forecast, 2019-2029
About BIS Research
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies, and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.
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